What is driving up oil price?
Posted by admin
Uchu asked:
I am puzzled with what is driving up oil price from 50 to 150 dollar per barrel in less than 2 year’s time. Isn’t the occupation of Iraq and Afghanistan serve to secure oil supply? Some factors that I can think of are:
1. increasing demand from China and india
2. reducing OPEC production
3. weakening of dollar
4. problem of Iran
However, I still cannot the impact because none of the above factors have changed so drastically in the last 2 years. Where can I find good resources to analysis this problem?
Trane Heat Pumps
I am puzzled with what is driving up oil price from 50 to 150 dollar per barrel in less than 2 year’s time. Isn’t the occupation of Iraq and Afghanistan serve to secure oil supply? Some factors that I can think of are:
1. increasing demand from China and india
2. reducing OPEC production
3. weakening of dollar
4. problem of Iran
However, I still cannot the impact because none of the above factors have changed so drastically in the last 2 years. Where can I find good resources to analysis this problem?
Trane Heat Pumps
April 13th, 2010 at 9:52 pm
all of those contribute somewhat. also, dont forget to include overall inflation, and envirnmental concerns and regulations that make procuring and producing oil more expensive.
April 16th, 2010 at 11:34 pm
I think we have a higher demand for oil now.